AMA Recap: SugarBounce x Hot Cross
Date: 19/01/2022
Host: Lu Dante (Hot Cross)
Guest: SugarBounce (Navin Ray — CEO of Sugar Bounce)
Alright, so we’ve had a fantastic week and it’s exhilarating to see the immense support we have received so far.
Before we move further with another AMA, we thought we’d take a minute and share a quick recap of the AMA that took place on 19/01/2022 with Hot Cross.
INTRODUCTORY QUESTIONS
Lu Dante | Hot Cross: We will start our AMA with the introduction part!
Could you please introduce yourself and how did you come up with the idea to create the Sugar Bounce project?
You can also share the website/app with Hot Cross Community
Navin Ray: Hi, I am Navin Ray. I am the CEO of SugarBounce.
So it was about in 2017 when I got acquainted with bitcoin, then invested a little bit and then spent a lot of time reading about blockchain and cryptocurrencies and realized how the adoption of this technology in the industry I was working in would change the way how the adult industry runs. Platforms could not only be profitable but at the same time be fair to the performers and content creators who work in the industry.
Here is a link to our website — https://sugarbounce.com/
Navin Ray: Done
Lu Dante | Hot Cross: Wow! You are an incredible character with a good crypto background. Maybe we have the same history.
Lu Dante | Hot Cross: On your website, there is a mention of Q4 2021.
In Q4 2021 when Sugar Pals starts rolling out (according to your Roadmap). Can you tell our community about Sugar Pals? When will Sugar Pals be officially released?
Navin Ray: Sure.
Our platform Sugar Pals will be a rival to Only Fans. It’s a subscription-based content distribution and video blogging service. It allows content creators to receive funding directly from their fans monthly as well as one-time tips in our token $TIP and also has a pay-per-view (PPV) feature. Influencers from all walks of life can create an account and immediately start monetizing their content on the platform.
Viewers will pay the subscription fees and one-time tips with our $TIP token, and only a minor percentage of the subscription fees will be retained by the platform. Tips and revenue generated by the PPV feature will entirely go to creators. All content hosted on our platform will be the property of the creators and as such will be a lifelong source of revenue for them.
We will roll out Sugar Pals after we launch Sugar Streams early next quarter.
Navin Ray: Done.
Lu Dante | Hot Cross: This is great. I am also a Only Fans user btw. Hope I can get some TIP and back to your website. Use it to experience the features that Sugar Pals brings to new users haha.
Lu Dante | Hot Cross: So as an adult content Platform, it’s not suitable for minors to use it, so I was wondering, how do you deal with this issue?
Do you require some kind of ID verification?
Do you verify the age of the fans somehow or is it totally out of your capacities as the developers of Sugar Pals?
Navin Ray: Hehe well if you stake $TIP right now we’ll get you a VIP membership on Sugar Streams.
We have a very strict and rigid KYC process for all the performers coming on the platform. They go through a few checks by our compliance team before they are actually registered as a performer on the platform. We also have a whole team to ensure that no underage content is uploaded on the platform. We have an age restriction for all the users who are coming on the platform to use it. But unfortunately doing a KYC verification for all users is pretty much out of our capacities to do.
Navin Ray: Done.
Lu Dante | Hot Cross: It’s like a DAO.
Lu Dante | Hot Cross: How about your business model?
It’s really competitive to make a profit from an adult-only entertainment platform. What is the basis for you to attract content creators?
Navin Ray: So the adult industry in itself is a very profitable industry but is right now monopolized by a few players. There is a huge need for reform and this is where we come in. With the adoption of blockchain and crypto currency in the adult space we actually solve a lot of problems that currently plague the industry. We can not only be profitable but at the same time ensure that people are not taken advantage of in the industry and also have decent pay.
Our business model consists of generating revenue via subscriptions , Tips , Advertising revenues. We also have Pay per minute and pay per view features as well along with NFT sales all of which will be paid with our token $TIP.
This also shows how much utility $TIP has on all our platforms.
Content Creators and models have already started joining us and at this point we have onboarded more than a 100 models for our launch. They see the values and change that we are bringing to the adult industry and have been very receptive to our project. We are also providing them with signing bonuses and a small streaming salary to join us before the launch of Sugar Streams.
Our project will be competing with some big players in the traditional space and I hope that we have the support of our crypto community as well as content creators and models from the adult industry to help us take them on.
Navin Ray: Done.
Lu Dante | Hot Cross: “ Pay per minute and pay per view features as well along with NFT sales all of which will be paid with our token $TIP. ” That’s cool. I love it.
Lu Dante | Hot Cross: If you can attract a lot of models that can contribute content then I’m really intrigued.
Lu Dante | Hot Cross: So what are your current products? If I’m completely new to this ecosystem, where do I start?
I think making it accessible is the fastest way to build a video/content creators platform.
Navin Ray: Sugar Streams is launching next month and we are very excited about it. As we speak our Fiat on-ramp integration is being done which will allow users to come and buy $TIP using their credit card on our platform. This is a huge step for us as we are one of the only crypto projects in the adult industry to have this. This ease of buying $TIP will help us convert more and more traditional users to crypto users.
Navin Ray: Done.
Lu Dante | Hot Cross: Nice.
Lu Dante | Hot Cross: Sugar Streams will be your first product of the new year.
Lu Dante | Hot Cross: Can you share with us your plan for Q1 2022?
Navin Ray: This quarter has been really busy for us. We have already partnered with 2 metaverses and are all set to launch Sugar Streams. We also have a few other really exciting partnerships that we will be announcing. But before the launch of Sugar Streams next month we have a couple of events coming that we will start teasing out in a few days so stay tuned.
We will also be onboarding many more models and content creators before the end of this quarter.
Navin Ray: Done.
Lu Dante | Hot Cross: And thank you so much for your complete and clear answers in this first part of the AMA, definitely have an innovative and exciting project, congratulations to you and your team.
Now is time to interact directly with our dear community in the live segment of the AMA.
Lu Dante | Hot Cross: I am going to unmute the chat group now.
Navin Ray: Perfect.
LIVE TELEGRAM QUESTIONS
Question 1 What do you believe is the biggest problem in the NSFW entertainment industry? And what about direct marketing strategies for 2022 and later, your main branding image to the general public? Thank you.
Navin Ray: The biggest problems in the adult industry currently are Content ownership, lack of transparency, pay structure, exploitation at the hands of traditional financial institutions.
Apart from digital marketing which will be happening in a huge way, we will also be advertising on traditional industry publications like Xbiz, Avn, and Ynot; and also be sponsoring events that they have.
Question 2 How realistic is that as a VIP staker, I can earn up to 250% in just 8 months of staking $TIP? How sustainable is this, for the long term?
What are Sugar Bounce plans for the Metaverse?
Navin Ray: So the rewards keep varying as you might have noticed. There is a set block of rewards and as more and more people stake the APY becomes less. It’s not for the long term but in the short term, it’s a decent strategy to have. Also, VIP stakers get premium memberships and so this way we also convert them to become users on the platform which in turn benefits us.
As far as metaverse plans are concerned we have already partnered with two and talks are going on for others as well.
Question 3 Has the $TIP tokenomics been available yet? How do you plan to manage the inflation of the token?
Navin Ray: Yes we have a very unique tokenomics which you can check out in our whitepaper or our TG group. We have a quarterly burn from 25% of our net profits.
Question 4 What is the maximum amount of $TIP or it is unlimited? Any burn mechanic planned? I can not find this information in the whitepaper.
Navin Ray: $TIP is not unlimited. We can only have a maximum supply of 199 million tokens which if you see by the standards of other crypto projects in the adult space is very little. But the 199 million tokens will only be emitted and come into the ecosystem if we onboard 1000 models every year for a period of 4 years and as a project if we have 4000 performers/models onboarded on our project they would bring with them many more users and holders of our token $TIP
We have a quarterly burn from 25% of the net profits of our platform.
Navin Ray: Done.
Lu Dante | Hot Cross: That’s all.
The selected questions came from:
1. https://t.me/futurist9
2. https://t.me/Idee01
3. https://t.me/NoobAtCrypt0
4. https://t.me/proxzy
Winners will be split $200.
Please DM me your BEP-20 wallet address to receive rewards.
Lu Dante | Hot Cross: Thanks for being here today mate @NRay84.
Lu Dante | Hot Cross: Do you want to share with the community more? Links, etc.
Navin Ray: Thank you mate it was really a pleasure being here thank you for hosting me.
Lu Dante | Hot Cross: You are welcome.
Lu Dante | Hot Cross: Thanks Hot Cross Community.
About SugarBounce
Sugarbounce aims to provide a consummate ecosystem for all NSFW entertainment needs of the next generation of viewers with the goal to decentralize adult content and lead the field in this emerging adult entertainment market by demonstrating how crypto and the blockchain can safely and effectively work in a highly-profitable NSFW context. The platform is geared towards making the lives of people working in the adult industry better and will bring in an amalgamation of P2P streaming, IPFS, and NFT Tech to bring a never-seen-before experience to viewers.
Twitter | Telegram | Medium | Website | Telegram Announcements
About Hot Cross
Hot Cross is an extensive multi-chain and cross-chain tool suite that enables blockchain teams and their communities to thrive. At its core, Hot Cross aims to be the best toolbox for ETH and EVM networks. Their development philosophy is agile, and they are a cohort of builders who aggressively seek out opportunities to meet the demands of the now for both B2B and B2C. The core thesis that Hot Cross presents is that users and teams will migrate in part to new networks that feel familiar when presented with good tooling and freedom. Hot Cross is a company and an ecosystem in and of itself, and our goals are towards allowing communities to flourish using our technologies, whether or not they know we are the ones building them.
